USDJPY – Down
USDJPY trading plan:
Japan’s factory activity growth slowed further to a 21-month low in October as relentless cost pressures torment manufacturers, but service-sector firms received a boost as the country reopened to foreign tourists. Factory output looked set to contract for the fourth month running as new domestic and export orders continued to shrink. The manufacturing sector struggled in the face of weak demand and severe cost pressures. The rate of output price inflation rose to a fresh survey peak in October as firms continued to share increasing cost burdens with their clients.
Investment idea: buy 148.50 and take profit 149.15.
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